Exercise 11-3A (Algo) Effect of accounting events on the financial statements of a partnership LO 11-1 Faith Busby and Jeremy Beatty started the B\&B partnership on January 1, Year 1. The business acquired $113,100 cash from Busby an $176,900 from Beatty. During Year 1, the partnership earned $62,100 in cash revenues and paid $34,900 for cash expenses. Busby the two partners in proportion to the amounts of their original ine $5,700 cash. The net income was allocated to the capital accounts of Required Prepare an income statement, capital statement, balance sheet, and statement of cash flows for B\&B's Year 1 fiscal year. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare an income statement for B\&B's Year 1 fiscal year. Exercise 11-3A (Algo) Effect of accounting events on the financial statements of a partnership LO 111 Faith Busby and Jeremy Beatty started the B\&B partnership on January 1, Year 1 . The business acquired $113,100 cash from Busby an $176,900 from Beatty. During Year 1, the partnership earned $62,100 in cash revenues and paid $34,900 for cash expenses. Busby withdrew $2,500 cash from the business, and Beatty withdrew $5,700 cash. The net income was allocated to the capital accounts of Required Prepare an income statement, capital statement, balance sheet, and statement of cash flows for B\&B's Year 1 fiscal year. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a capital statement for B\&B's Year 1 fiscal year. Exercise 11-3A (Algo) Effect of accounting events on the financial statements of a partnership LO 11-1 Faith Busby and Jeremy Beatty started the B\&B partnership on January 1, Year 1 . The business acquired $113,100 cash from Busby and $176,900 from Beatty, During Year 1, the partnership earned $62,100 in cash revenues and paid $34,900 for cash expenses. Busby withdrew $2,500 cash from parthers in proportion to the amounts of their original investments in the busincome was allocated to the capital accounts of Required Prepare an income statement, capital statement, balance sheet, and statement of cash flows for B\&B's Year 1 fiscal year. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a balance sheet for B\&B's Year 1 fiscal year. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) $176,900 from Beatty, During Year 1, the partnership earned $62,100 in cash revenues and paid $34,900 for cash expenses, Busby withdrew $2,500 cash from the business, and Beatty withdrew $5,700 cash. The net income was allocated to the capital accounts of Required Prepare an income statement, capital statement, balance sheet, and statement of cash flows for B\&B's Year 1 fiscal year. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for B\&B's Year 1 fiscal year. (Enter cash outflows with a minus sign.)
